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| Douglas K. Mandel |
CASSELBERRY, FL, June 30,
2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada,
today announced the sale of Howell
Branch Corners, a 14,765-square foot retail property located in
Casselberry, FL, according to Ryan Nee, Vice President/Regional Manager of the
firm’s Fort Lauderdale office.
The asset was 77 percent
occupied at the time of sale and sold for $6,525,000 or $442 PSF.
Douglas K. Mandel, Senior Managing Director Investments, in Marcus & Millichap’s
Fort Lauderdale office and Nicholas
Hanson, Associate, in Marcus & Millichap’s Orlando office, had the
exclusive listing to market the property on behalf of the seller, a
partnership, and secured and represented the buyer, a limited liability
company.
Mandel states, “The
transaction demonstrates the continued trend of capital inflow to Orlando from
primary markets by investors seeking higher yields and the non-stop demand for
quality retail assets throughout the MSA from out of area buyers attracted by
the regions strong fundamentals and future growth potential.”
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| Nicholas Hanson |
Howell Branch Corners is
located at 2525 Howell Branch Road in Casselberry, FL. Shadow-anchored by a Casselberry Commons, the
property is located at the signalized corner of Howell Branch and Semoran
Boulevard, one of the busiest thoroughfares in the Orland, offering tenants
excellent exposure.
Howell Branch Corners is a
14,765-square foot, premium retail plaza boasting national tenants such as
Starbucks, BB&T and T-Mobile.
“Buyers are seeking premium assets in nontraditional-class A locations where they
can achieve strong returns with the opportunity to add value,” continues Hanson
For a complete
copy of the company’s news release, please contact:
Ryan Nee
Vice President / Regional
Manager, Fort Lauderdale
(954) 245-3400
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